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546 Hoyt ST Painesville, OH 44077
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Key Details
Sold Price $800,000
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 5230089
Sold Date 10/29/26
HOA Y/N No
Year Built 1973
Annual Tax Amount $15,392
Tax Year 2025
Lot Size 1.610 Acres
Acres 1.61
Property Sub-Type Commercial
Property Description
Multi-tenant industrial value-add investment in Painesville's established corridor. Comprising 26,720 SF across 21 flexible units, the property offers a diversified tenant base with significant rental upside. The asset is 71% occupied, primarily by long-term, month-to-month tenants with below-market rents. This flexible structure offers an investor immediate opportunity to stabilize, lease vacancy, and drive the asset toward a ±10% pro-forma Cap Rate. Situated on 1.61 acres with a 23,400+ SF paved lot for ample parking. Ideal for portfolio investors or owner-users. Easy access to SR-2 & I-90. *Roof has been redone, approximately 20 years ago.
Location
State OH
County Lake
Interior
Heating Gas
Fireplace No
Exterior
Roof Type Asphalt,See Remarks
Present Use Industrial
Schools
School District Painesville City Lsd - 4305
Others
Tax ID 15-B-010-0-00-017-0
Financing Conventional
Special Listing Condition Standard
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Bought with Non-Member Non-Member • Non-Member
NEARBY SCHOOLS & BUSINESSES
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